The students in the Chartered Accountancy field has one big doubt in their mind, i.e., what’s the average salary of CA in India? To answer this question straight away, on average, CA earns 7-8 lakhs per annum in his initial years. Now based on this calculation, we can say that salary of CA in India per month is around 60 to 65 thousands. As his experience and expertise grow, his income also increases. Moreover, CAs outside India are earning even more. They get an annual package of up to 60 lakhs to 70 lakhs.
How are CAs earning so much, and can you also get these higher packages? In the last few years, we have seen a significant boom in the financial sector of India. Not only that, almost all sectors are pacing up after witnessing the downfall due to the Covid-19 pandemic. Therefore, there is and will be a huge demand for CAs in every industry. This provides an opportunity for many aspirants like you to build a successful career. To earn higher pay packages, you need to focus on clearing the CA exams and gaining skills and expertise. Learn in detail how to become CA in India and kickstart your career
In this article, you’ll read in detail about the Average salary of CA in India, the factors affecting CA earnings, and the salary based on skills, job profiles, and more.
Average Salary of CA in India
Chartered Accountants are highly paid even in India. Extensive years of service experience are repaid in every industry. Notably, in India, a CA fresher secures up to 7-8 lakhs for each annum. However, a refined and experienced CA earns up to 40 lakhs per annum. Moreover, the CA organizations outside India pay huge remunerations that may go up to 70 to 80 lakhs per annum. Indeed the expertise in the investment and auditing fields ensures to receive big payment.
According to the ICAI, there is an increase in the demand for chartered accountants in India by 37% even after getting hit by the Covid pandemic. Due to this, the average salary of CA fresher in India increased from 7.34 lakhs to 8.91 lakhs yearly. Having said that, many factors affect the average package of CA in India. So now, let’s jump onto them one by one.
Factors affecting CA Salary in India
You might have heard that some are earning more while others are not even getting the average salary that a CA receives in India. This is because there are many factors that companies and organizations consider while hiring you on a pay package. For instance, if you clear the exam in one shot, you’ll get a higher package than someone who took more attempts. Or maybe you get more or less based on your communication skills, years of experience, knowledge about the subject, the company hiring you, etc.
In the following sections, you’ll get to know these factors that can pay you even more than the average CA salary in India.
CA Salary in India based on Skills
A Chartered Accountant has many skills such as managing budgets, Financial reporting, Auditing, Controlling, etc. The average income of CA in India is also based on what skills you have. Henceforth, here is the table showing the average salary of CA in India per annum based on their skills.
|CA Skills||Avg. Salary p.a.|
|Budget Management||10 Lakhs|
|Strategic Accounts||9 Lakhs|
|Evaluation & Management Auditing||8.5 Lakhs|
|Financial Analysis||8.5 Lakhs|
|Financial Advisor||8.5 Lakhs|
|SAP Financial Accounting & Controlling||8.5 Lakhs|
|Financial Reporting||8-.5 Lakhs|
|Account Management||7.5 Lakhs|
|Internal Audit||7 Lakhs|
|Tax Consulting||7 Lakhs|
|Tax Compliance||7 Lakhs|
CA Salary in India based on Experience
While hiring a CA, employers also see their experience and in which firms they have worked before. This helps the employer in judging the capability of a CA. So now, check the average package of CA in India based on his experience.
|No. of year experience||Average CA Salary|
|0-5 years||6-9 lakhs|
|5-10 years||12-15 lakhs|
|10-20 years||20-22 lakhs|
|Above 20 years||60-70 lakhs|
Average Salary of CA in India based of Job Profile
Despite an alternate post in the country that needs a Chartered Accountant more than the data on Accounts and Taxes. Indeed the different people with a balanced tutoring career in the government use the higher occupation of the job. Nonetheless, the job profiles of Account Executive, Finance Controller, and Finance Manager receives an annual package of Rs. 20 Lakhs. In the following table, you’ll get the average package of CA in India based on their job profile.
|Job Profile||CA Salary|
|Account assistant||1.75-2 Lakhs|
|Business analyst||3.5-4.5 Lakhs|
|Senior accountant||3.5-3.75 Lakhs|
|Senior account executive||3.5-4.5 Lakhs|
|Assistant account manager||4-5 Lakhs|
|Financial analyst||5.5 -6 Lakhs|
|Chartered accountant||7-8 Lakhs|
|Finance manager||9.5-10.5 Lakhs|
|Finance controller||18-19 Lakhs|
|Account executive||25-26 Lakhs|
|Financial officer||34-35 Lakhs|
Difference in Range of Salary for Toppers and Others
The starting salary of a CA in India can also differ from their performance in the CA exams. Students who have topped the exams are always preferred more than others. Moreover, students who have cleared the exams in the first attempt may get a higher pay package than someone who took more attempts.
|CA Final Passed In Several Attempts||Passed in Single Attempt||CA Final Toppers|
|INR 6-9 Lakhs||11-15 Lakhs INR||INR 16 – 25 Lakhs|
Hence, to develop your career, you need to study hard and focus on practical training. Since now is an opportunity for you to make an independent career all by yourself. In the above sections, you have read about the average salary of CA in India, but you should aim for higher. Be dedicated to your studies and follow a proper plan towards your goal. CA professionals working independently can have even higher chances of earning more.
Now, you got the answer of what is the average salary of CA in India. In this article, you have also read about different factors affecting the average income of CA in India. With these handsome pay packages, you can even earn some more money in terms of bonuses, commissions, and fees. So, interested students can start their careers in CA.